Elon Musk’s troublesome policies; Twitter’s $8 blue tick cost a pharmaceutical company $15 billion

Twitter led Elon Musk It has undergone extensive changes. Moments after taking over Twitter, Musk fired the company’s top executives, and about a week later, we saw the layoff of half of Twitter’s employees. Mask has changed the process of receiving a blue tick and all users can add a blue tick to their account by paying a monthly subscription of eight dollars.

According to Zomit, Twitter’s blue tick has been very newsworthy in recent days. Just hours after the launch of the new Twitter Blue service, a significant number of users started impersonating famous people and writing sensitive tweets. Even politicians and athletes have not been spared from impersonation. In several instances, fake accounts attributed to SpaceX and Tesla (companies owned by Elon Musk) also posted news-making tweets.

In response to recent developments, Twitter added a gray label Official to official accounts to distinguish them from fake accounts with a blue tick. The hashtag was taken down hours after it was originally posted, but has apparently been re-added to Twitter since yesterday.

The text-based social network has temporarily disabled Twitter Blue from signing up to address the issue. Musk said in recent days that Twitter is going to do a lot of stupid things in the coming months.

Screenshot of fake account of George Bush on Twitter

A fake account attributed to George Bush, who had a blue tick, wrote about “longing to kill Iraqis.”

Despite the suspension of Twitter Blue registration, a number of fake accounts with a blue tick are still active. In a fake account example attributed to George Bushthe former president of the United States, wrote about “longing to kill Iraqis”, a tweet that was strongly reacted on social networks.

Tweets from fake accounts have caused a lot of controversy in some cases. The pharmaceutical company Eli Lilly and Company (Eli Lilly and Company), which has official offices in more than 17 countries and is considered one of the oldest pharmaceutical companies, faced a significant loss due to a fake account on Twitter.

The tweet of free insulin on the fake account of Ilai Li Li company

This tweet, published by a fake account with a blue tick, reduced the market value of the pharmaceutical company Eli Lilly by $15 billion.

Eli Lilly is one of the main producers of insulin worldwide and earns a lot of money from selling insulin. A fake account on Twitter, which received a blue tick due to the provision of the Twitter Blue service, and whose ID looked official, announced in a tweet that insulin would be free. Hours after this tweet was published, the shares of Eli Lilly fell and lost 15 billion dollars from the company’s market value.

Ilai Li Li in his official account with the publication a tweet He apologized for the margins created and emphasized that the message published about insulin was fake. The fake account attributed to Ilai Li Li is now unavailable and no longer has a blue tick.

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The price of insulin in the US has become a controversial issue for years. Statistics show that Eli Lilly and two other companies, Novo Nordisk and Sanofi, supply more than 100% of the insulin used in America and 90% of the total insulin in the world.

It seems that the drop in pharmaceutical companies’ shares as a result of the fake tweet was not limited to Eli Lilly. Company shares Novo Nordisk and Sanofi fell 3.5 percent and 3.4 percent, respectively.

Eli Lilly earned more than $878 million in sales of insulin in the third quarter of this year alone. Of course, the sales of Eli Lilly’s insulin in this period of time was 20% less than in 2021. This pharmaceutical company has a special plan on its official website in which insulin can be accessed by paying $35 per month.

Elon Musk started leading Twitter with many margins, and while the bankruptcy of this social network is not out of the question, most analysts do not imagine a bright future for Twitter. Musk has made changes to Twitter that took weeks and months to make during the leadership of previous managers.

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